GSS America Infotech to set up GDC at H'bad

Published: Thursday, February 7, 2008, 17:34 [IST]

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Mumbai, Feb 7: GSS America Infotech, a total IT solution provider, has decided to utilise the net proceeds of the issue of 34,97,495 equity shares of Rs ten each for setting up of a Global Delivery Centre (GDC) at Hyderabad with 1,000 seating capacity.

Company Managing Director Ramesh Yerramsetti, while talking to reporters here today, said, ''The Company proposes to enter the capital market on February 11 with the price band of Rs 400 to 440 per equity share of Rs 10 each, and the issue closes on February 15. The proceeds will be used for setting up offices at overseas, meeting working capital requirement and for acquisitions.'' Presently, the Company is operating in India from its two GDCs at Hyderabad in India and has two GDCs at Chicago in US. It further plans to acquire facilities in Europe, Middle East and Far East.

Initially, these facilities will look after the implementation and support functions for the products and eventually will be independently looking after the marketing functions of the Company in their respective regions, Mr Yerramsetti added.